China Tech Shares on Track for Record Lows as Rout Continues

A man flies a kite on the Bund as the Lujiazui Financial District stands in the background in Shanghai on April 10,. Photo: Bloomberg

(Bloomberg) — China tech shares extended declines into a third session to test fresh record lows, tracking a slump in their U.S.-listed peers on growing concerns over withdrawal from American exchanges.

The Hang Seng Tech Index, a gauge of mostly Chinese tech giants traded in Hong Kong, fell as much as 2.9% to the lowest since its launch in July last year. Trip.com Group Ltd. and Alibaba Group Holding Ltd. led the slide, each losing at least 8.3%. The companies both have U.S.-listed American depositary receipts.